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IVA and back money

auldblerk
auldblerk Posts: 1,083 Forumite
in IVA & DRO
I'm just about to start an IVA but have some back money due in September of roughly £700. My question is will the IVA company cease it and gobble it up; do I have to submit my bank statements ? Advice on this would be appreciated.

Comments

  • althas
    althas Posts: 410 Forumite
    You will need to talk to your IP in charge of your IVA. It will all depend on the agreement

    I believe a general rule is you can keep the first 10% of windfalls like this, then the remainder is split 50/50 between you and your creditors. But you IP will give you exact terms

    Good Luck
    There are 10 kinds of people that understand binary
    Those that do
    Those that dont
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